Stocks rise after Disney and Cisco rise on earnings reports Stock ended a choppy week on an up note as hope over a COVID-19 vaccine, most notably the one being developed by Pfizer ($PFE) and BioNtech ($BNTX), has been able to offset rising concerns about spiking virus cases and new restrictions in the U.S. and Europe. Friday's trading was aided by a few better than expected, big name earnings reports last night that helped buoy the Dow as well as the broader market. ECONOMIC EVENTS: In the U.S., the headline Producer Price Index overshot estimates with a 0.3% October gain, alongside a restrained 0.1% core increase. The preliminary November print from the University of Michigan survey revealed its reading of consumer sentiment dropped 4.8 points to 77.0 from a seven-month high of 81.8 in October. Data from the Johns Hopkins Whiting School of Engineering shows there are now 52.9M confirmed cases of COVID-19 worldwide, including 10.57M in the U.S., and roughly 1.3M deaths due to the disease, including about 243,000 in the U.S. TOP NEWS: Shares of Disney ($DIS) rose 2.2% following the company's report last night of Q4 results that were significantly better than expected. RBC Capital analyst Kutgun Maral, who upgraded Disney to Outperform with a price target of $170 after the report, argues that the stock offers investors "unique exposure" to a recovery play supported by a "compelling" COVID hedge through its streaming service along with its "attractive" underlying businesses like Parks, Consumer Products, and the Studio. Shares of Cisco ($CSCO) gained 7.1% after the networking giant's earnings report. Following last night's better than expected October quarter results, Citi analyst Jim Suva said he was impressed with the company's outlook as well as a "clear change in tone." Shares of Palantir ($PLTR) advanced 8.2% after the company's first report as a public company. Jefferies analyst Brent Thill, who thinks the company's Q4 and calendar 2021 growth guidance is likely to prove conservative, raised the firm's price target on Palantir to $18 from $13 and keeps a Buy rating on the shares. Meanwhile, Morgan Stanley analyst Keith Weiss downgraded Palantir to Equal Weight from Overweight, telling investors that he sees the risk/reward as balanced with the shares trading near his revised price target of $15 after a greater than 50% spike in the stock price over the past three weeks. DraftKings ($DKNG) also gained 3.9% after the sports betting company reported better than expected results and management raised its guidance for FY20 revenue. "More importantly," the company gave guidance for 2021 that topped the consensus view and his estimate, which Jefferies analyst David Katz noted "should be positive for the stock." MAJOR MOVERS: Among the noteworthy gainers was Unity Software ($U), which rose 12.8% following the company's first quarterly report since coming public. Also higher after earnings was Farfetch ($FTCH), which gained 5.7%. Among the notable losers was NIO Inc. ($NIO), which dropped 7.8% after Andrew Left's Citron Research said in a newly published report that the electric car maker shares are "in unchartered territory that can never be justified by its current standing in the China EV market or its near-term prospects" and set a $25 price target on the stock. Also lower was Amwell ($AMWL), which fell 18.1% after the company's first quarterly report since coming public. Nasdaq Composite +31.8% YTDS&P 500 +11.0% YTDRussell 2000 +4.5% YTDDow Jones Industrial Average +3.3% YTDMarket SnapshotDow29479.75+399.64(1.37%)Nasdaq11829.21+119.70(1.02%)SP 5003585.29+48.14(1.36%)10-yr Note -1/320.893NYSEAdv 2500 Dec 519 Vol 887.0 mlnNasdaqAdv 2570 Dec 897 Vol 3.6 blnIndustry WatchStrong: Energy, Industrials, Real Estate, Materials, FinancialsWeak: Utilities, Information TechnologyMoving the Market-- S&P 500 and Russell 2000 closed at record highs-- Cyclical and small-cap stocks led the broad-based advance-- Prevailing optimism about a vaccine and economic growth in 2021-- Technology stocks underperformed, except Cisco (CSCO) following its earnings reportDisclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. 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